Friday, October 25, 2013

Detroit bankruptcy could be a dark look at America's future

By Editorial Writer | OCTOBER 24, 2013

Detroit is America's Ghost of Christmas Future - a dark portent of what will happen to the whole country eventually if the free-spending ways of American government at every level don't change dramatically and soon. One would have thought that this would have become evident enough when Detroit filed for bankruptcy in July. The city staggers under $18.5 billion of debt. Just keeping the street lights on is a struggle.

And yet denial remains the inexhaustible resource of the American professional political class. In court hearings to determine the legality of the Detroit bankruptcy filing, opponents have resorted to arguing that the city had no reason to go bankrupt. The whole thing was nothing more than a scheme from the start to rob city employees, said United Auto Workers lawyer Babette Ceccotti: “We think that by connecting all the dots here, the plan [all along] was to use Chapter 9.”....To Read More.....

 

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